Weakening demand seen for gold jewellery


In the first quarter of 2022, jewellery demand in Malaysia rose by 23% year-on-year to over three tonnes despite higher gold prices.

GEORGE TOWN: The value of gold jewellery exports from Malaysia is projected to decline by 15% to 20% this year as the first five months of export data showed signs of weakening overseas purchases.

According to Malaysia External Trade Development Corp, the country exported RM2.29bil worth of gold jewellery products from January to May, which was slightly more than the RM2.24bil registered for the same period a year ago.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

From crime cache to auction
Lark’s New World order
Cautious optimism on markets
Seeking value in Malaysia’s tech rally
Fujian’s rural revitalisation
Risky stretch for markets
S-REITs�shine as defensive plays
Gold holds the hedge
Malaysia’s bonds brace for bumpy ride
Genting downgraded again amid rising leverage

Others Also Read